Here's How Much Income You Need To Be Middle Class In Connecticut

CONNECTICUT — It's become more difficult to be middle class in the United States in recent years.

And Connecticut is one of the most difficult states to be middle class in. The Constitution State ranks in the top five for the highest income required to be middle class, behind only Hawaii, Washington, D.C., and New York, according to a ConsumerAffairs report. Connecticut was tied with New Jersey for the fourth spot.

Oliver Rust, head of Product at independent inflation data aggregator Truflation, said the number of middle-class families has stayed stable over the last decade, but now the middle class is dealing with financial insecurity and higher debt loads.

The middle class is capturing a lower share of income than in the 60s, 70s, and 80s, Rust told ConsumerAffairs.

Since the mid-2000s, middle-class income has shrunk from roughly 60 percent, partly due to demographic changes as there has been a sharp increase at the extreme bottom and top of the economic spectrum, according to Rust.

Recent increases in inflation may also be a contributor. Inflation peaked at 9 percent in June 2022.

ConsumerAffairs used a Pew Research calculator to determine the minimum annual income needed in each state to be considered middle class. Then they put that data into an inflation calculator from the U.S. Bureau of Labor Statistics.

Here are the top ten states with the highest minimum annual income required for a family to be middle class in 2023:

1. Hawaii: $82,630

2. (tie) Washington, D.C. and New York: $81,396

4. (tie) Connecticut and New Jersey: $80,163

6. Massachusetts: $76,463

7. (tie) Maryland, Washington, and New Hampshire: $73,997

10. Vermont: $71,530

Read the full story at ConsumerAffairs.

Is your family still part of the American middle class? Find out by using the Pew Research Center's calculator.